Paga Group, a UK-headquartered financial technology company and one of Africa’s fastest-growing fintech businesses, today announced its expansion into the United States market with the launch of digital banking services for Africa’s diaspora community.
Created in partnership with a US-regulated bank, Paga’s new service provides Africans living in the US with unprecedented access to international banking solutions designed to meet their specific needs. Through the introduction of a US-domiciled account, customers can now open and manage a fully regulated US bank account and conduct everyday banking transactions in the US using only a valid form of identification and a US residential address. This marks a significant step in increasing financial inclusion and removing the barriers traditionally faced by Africans abroad when trying to access secure, mainstream banking services.
The initial rollout is focused on Nigerians living in the US, representing the first stage of Paga’s broader international growth strategy. Over time, the company plans to extend this offering to other African diaspora communities, reflecting its mission to deliver inclusive, modern, and borderless financial services to Africans around the world. By offering a fully regulated US account with simple onboarding, Paga is helping to eliminate the complex, costly, and exclusionary processes that have long limited access to financial infrastructure for many immigrants.
“Millions of Africans abroad face unnecessary barriers to basic financial services. Opening a bank account, saving in a stable currency, or sending money home is often expensive, complicated, or out of reach. In the United States alone, over 4.5 million African immigrants navigate a system that was never designed for them. We are breaking down those barriers,” said Tayo Oviosu, Founder and Group CEO of Paga.
The Nigerian population in the US is estimated at approximately 760,000 people as of 2023, including around 476,000 Nigerian-born immigrants. This figure is widely considered to be an undercount, as the community has grown rapidly from about 25,000 people in 1980, at an average annual growth rate of roughly 4.8%. In 2024, remittances to Nigeria reached an estimated US$21 billion, up from about US$19.5 billion in 2023. These inflows underscore the critical role diaspora communities play in supporting their families, sustaining livelihoods, and contributing to economic development back home.
Paga’s US account is designed with this community in mind. The account offers both physical and virtual Visa debit cards, which integrate seamlessly with Apple Pay, Google Pay, and Plaid. This integration allows Paga US account holders to link their accounts with popular third-party apps such as Robinhood and Venmo, enabling them to transact freely across platforms. Customers can also send money to US or Nigerian bank accounts, with expansion to additional countries planned in the near future.
Unlike traditional remittance products that focus solely on transfers, Paga’s service is built first and foremost for banking and payments. It empowers Africans to participate fully in global commerce, providing the infrastructure to manage both domestic and international transactions with ease. The initial rollout focuses on people who live across two worlds—particularly members of the Nigerian diaspora who maintain strong financial and familial ties at home—allowing them to manage their finances through a single wallet.
The launch represents another major milestone in Paga Group’s mission to make it simple for one billion people to access and use money. It reinforces the company’s role as a leading force in building Africa’s financial infrastructure for the future, bridging local expertise with global financial networks.
“Paga’s US dollar account gives users access to an FDIC-insured current account, connected to the financial tools they use every day. It is simple, inclusive, and built for real-life needs. We are putting control back in the hands of the diaspora and laying the foundation for borderless banking for Africans everywhere,” added Mr. Oviosu.
Eligible users can download the Paga app and open their accounts seamlessly to start banking in the US while staying connected to their financial lives back home.
